Ormat Technologies, Inc. (ORA)

Over the past six months, Ormat Technologies' stock (ORA) experienced several notable events. Ormat reported robust Q3 2025 results with revenue up 17.9% year-over-year and raised its adjusted EBITDA guidance for 2025. Ormat co-led a $25 million equity investment in Sage Geosystems Inc. Ormat reported a strong 2025 with revenue increasing 12.5% to approximately $990 million. Ormat announced the commercial operation of its 80MW/320MWh Shirk Energy Storage Facility in California. Ormat announced and subsequently closed an upsized offering of $1 billion in convertible senior notes. Jefferies lowered its price target on ORA to $122 from $130, maintaining a Hold rating. Ormat signed a long-term portfolio geothermal Power Purchase Agreement (PPA) to supply up to 150 MW to support Google's Nevada data center operations.

Demand for Ormat Technologies' products and services is generally less subject to the same seasonality as some other renewable energy sources. Geothermal power provides continuous, dispatchable renewable power, available 24/7 year-round, which contributes to grid stability. Demand for equipment sales could be influenced by project development cycles of other geothermal and recovered energy plant developers. The demand for new energy storage projects or the revenue generated from ancillary services in electricity markets could be influenced by seasonal fluctuations in energy demand and pricing. The solar PV component of Ormat's portfolio would naturally experience seasonality in generation based on sunlight availability. Ormat's diversified portfolio helps to mitigate significant demand seasonality for its core electricity generation business.

Ormat Technologies, Inc., headquartered in Reno, Nevada, specializes in alternative and renewable energy technology, operating within the Electric Utilities sector. It is a vertically integrated company engaged in geothermal and recovered energy generation (REG), with a growing presence in energy storage services and solar photovoltaic (PV) solutions. Ormat designs, manufactures, owns, and operates geothermal and recovered energy power plants, utilizing its proprietary Ormat Energy Converter. The company supplies equipment such as turbines, generators, and heat exchangers. Ormat owns and operates grid-connected Battery Energy Storage System (BESS) facilities and develops, builds, owns, and operates solar PV projects, including hybrid geothermal and solar PV systems.

Ormat Technologies has a significant global presence, with operations spanning across 30 countries, having built over 190 power plants and installed over 3,200 MW of output worldwide. As of early 2026, Ormat's generating portfolio includes 1,268 MW of geothermal and solar generation spread across the U.S., Kenya, Guatemala, Indonesia, Honduras, and Guadeloupe, and a 350 MW energy storage portfolio located in the U.S. The company has supplied turbochargers globally, including in North America, South America, Europe, Australia, and Asia. Specific countries where Ormat engages in geothermal and recovered energy power business include the United States, Indonesia, Kenya, Turkey, Chile, Guatemala, Guadeloupe, New Zealand, Honduras, France, and the Philippines.

Ormat Technologies generally maintains a positive brand reputation within the renewable energy sector, often highlighted for its leadership in geothermal technology and its commitment to sustainable solutions. Ormat is recognized as a leading geothermal company and the only vertically integrated company in geothermal and recovered energy generation. The company's core business inherently supports global decarbonization by generating renewable, low-emission power. Recent news highlights strategic collaborations to advance next-generation geothermal technologies. Ormat has secured major long-term power purchase agreements with hyperscalers like Switch and Google.

Ormat Technologies exhibits a conventional ownership structure, with institutions holding a significant majority of outstanding shares. Institutions command 85.67% of outstanding shares. Insider ownership stands at 5.02% of the total share count as of February 19, 2026. Individual investors hold 0.26% of the shares.